SOURCE: Industrial Info Resources

Industrial Info Resources

August 12, 2011 06:20 ET

Summertime Not a Fun Time for ERCOT, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Aug 12, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- This year is unfolding as one of record-breaking energy demand for Electric Reliability Council of Texas Incorporated (ERCOT) (Austin, Texas), which manages approximately 85% of Texas' electric load, covering about 75% of the state's total area. ERCOT's own forecast, issued June 30, predicted a peak summer demand this year of 63,898 megawatts (MW), based on "the assumption that 'normal' (or typical) weather is milder during forecasted summer peak days than was experienced in 2010." However, this assumption was shattered last week, when sweltering temperatures pushed power demand in Texas to record levels three straight days in a row.

Making matters worse was a significant amount of unplanned outages at Texas power plants. Last week's critical situation caused the price of wholesale electricity sold in ERCOT to skyrocket. Spot prices for electricity reached their capped limit of $3,001 per megawatt-hour at peak times last week.

Companies featured: NRG Energy Incorporated (NYSE:NRG)

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